Energy Efficient Mortgages

  • Clark Ricks
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2 years 4 months ago - 2 years 4 months ago #30 by Clark Ricks
Clark Ricks created the topic: Energy Efficient Mortgages
I'm still hearing reports that bank lending is still an obstacle for ICF construction. Back at the height of the building boom, several "energy efficient mortgages" were offered. I've included the list below. If anyone has up-to-date info on any of the programs, I would greatly appreciate if you shared it with the group!

As recently as 2007, most of the major lenders—including HUD, FHA, VA, Fannie Mae, and Freddie Mac--offered “The Energy Efficient Mortgage" (EEM) which allows borrowers to qualify for a larger mortgage as a result of the energy savings that reduced their monthly out-of-pocket expenses for utilities. Most increased the debt ration from 29% of person’s income to 31%, and Freddie Mac up to 33% for an EEM.

Other regional lending institutions (IndyMac Bank and Mid-Country Bank, to name two) offered special financing for ICF construction.

A few ICF brands, had financing programs for owner builder. Reward Wall had one that basically used the money the owner saved by acting as his own installer as the down payment on the loan.
Last Edit: 2 years 4 months ago by Clark Ricks.

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2 years 4 months ago - 2 years 4 months ago #31 by Clark Ricks
Clark Ricks replied the topic: Owner/Builder Financing
Another before-the-crash financing option was the various partnerships set up with Owner Builder Alliance aimed specifically ICF homebuilders serving as their own general contractor. www.ownerbuilderalliance.com/icf/index.htm

Options included a zero-down, 3-in-1 loan for (1) lot purchase, (2) construction costs and (3) permanent mortgage. They also offered construction guidance for the entire residential homebuilding management process.
Last Edit: 2 years 4 months ago by Clark Ricks.

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2 years 4 months ago #32 by Clark Ricks
Clark Ricks replied the topic: Green-bate
In 2009, Logix ICF introduced a "Green-bate," basically a $1-per-block rebate for homes that certify under any of the major green building programs (LEED, NAHB Green Building Certification, the U.S Dept. of Energy Builder’s Challenge; or inCanada, LEED, R-2000, and Energuide for New Homes).

This program apparently expired in 2010

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  • Brad Moulton
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2 years 1 month ago #55 by Brad Moulton
Brad Moulton replied the topic: Green-bate
Thanks Clark, Great information.

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